Fashion Retail Buying and Merchandising is an exciting yet challenging career path that requires an amazing blend of creativity and math to ensure the 5 R's: the right product is sold at the right time, in the right quantity, at the right price, and from the right place.
The creative side of retail buying requires an appreciation of colours, styles, fabric, texture, silhouette, trends, and other attributes encompassing the physical appearance of the product, while the math side takes care of the numbers involved in planning its quantity for the new season and other commercial goals.
It enables you to understand how the fashion business works. It includes all the processes involved in producing raw materials, apparel and accessories, and the retail stores that sell fashion merchandise to the public.
It includes all the activities beginning from fashion forecasting, design, and development of products to retail activity and this also comprises production as well as retail merchandising. It consists of items of retail merchandise that have ornamental value either with or without having any functional value.
Fashion buying and merchandising roles require a blend of creativity and analytical skills. Professionals in these roles need to have a good sense of fashion aesthetics, understand consumer preferences, have knowledge of sourcing and production of fashion, and predict future needs. They also need to analyse sales data, manage budgets, and make data-driven decisions on slow-moving and fast-moving fashion products to optimize sales performance.
The Merchandisers and buyers play key roles and responsibilities within the fashion and lifestyle industry that involve the strategic planning, selection, purchasing as well as production of fashion products for branded retail or e-commerce. They are a crucial part of determining what products are stocked and sold to consumers, as well as managing inventory, trends analysis, sourcing of raw materials, production of fashion products and maximizing profitability.
In today’s times, some of the major factors that are contributing to the positive career expansion in this field are:
While the career prospects in fashion buying and merchandising can be promising, it's important to note that the competition for these roles can be intense. Building a strong foundation in fashion business, staying updated with industry trends, networking, and gaining relevant experience through internships or entry-level positions can enhance your chances of success in this field.
Qualifications such as fashion and lifestyle business management and fashion Business with merchandising and marketing specialization are worthwhile for individuals aspiring to become fashion buyers and merchandisers, as they provide essential expertise and abilities relevant to their job responsibilities.
All in all, fashion buying and merchandising is a promising career path with immense opportunities to grow.
About the author:
Prof. (Dr.) Himani Choudhary is the Department lead for Fashion Business. She is an accomplished fashion and textiles professor possessing a comprehensive blend of hands-on professional, academic and research experience. With more than 20 years of synergistic experience working in the industry and academics, she has worked with apparel brands like Gap, Banana Republic, H&M, Macy's and Tommy Hilfiger holding diverse portfolios in the merchandising division, fabric, and business development before moving to the university level as a full-time academician.
Her work experience includes working with the National Institute of Fashion Technology; as a Professor & Program Director, the School of Design, Sushant University; heading the department in the School of Design and Visual Arts, Apeejay Stya University, World University of Design and Delhi University.
